Dubai-based META4 group will invest Rs 250 crore to set up an electric vehicle plant in Telangana, marking its foray into India’s smart green mobility space, it said in a statement on Monday.
META4 has made this investment through Voltly Energy, a platform which provides advanced EV 2-wheeler manufacturing and delivers energy-efficient EV charging solutions for all electrified vehicles, it added.
“With this investment with the Telangana government, META4 intends to bring quality driven EVs to the Indian market in accordance with the Fame2 approvals set by the Indian regulatory authority, and it will simultaneously enable space towards a strong economic drive-in electric mobility. This collaboration will hopefully pave the way for Voltly Energy to accelerate their vision of Make in India campaign and establish their identity as a purely Indian entity” said, Muzammil Riyaz, group chief executive officer, META4.
The plant will have major automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery. It will also help create nearly 500 direct and 2,000 indirect jobs in the state, the statement further said.
“Entire nation is working hard towards achieving the e-Mobility mission. Amid this revolution we are happy that the state is fast transforming into a favourite destination for the electronic vehicle manufacturing sector. We are glad that META4 chose Telangana as their hub and we believe that with their commitments for smart mobility they will be a big contributor for the EV revolution in the country,” said KT Rama Rao, Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology of Telangana.
“To cater to the growing EV market in India, we are happy to choose Hyderabad as our manufacturing location as being a Tech city this always brings new technology and innovation to the Indian consumer. To cater to the growing EV market in India, we not only aim to serve our customers in India but also export vehicles to other global markets,” said Aditya Reddy, director, Voltly Energy Pvt. Ltd.
META4 Holding is a privately owned company in Dubai. The group had been overseeing various business segments with an approach towards smarter solutions and services. It comprises multiple companies based in the Middle East, which includes Centre Systems Group, Westend Arabia, MintZy, CoinCult and Ellysium Automotives.
India’s EV space has been attracting global firm’s interests for quite some time.
Last month, Global tech firm ABB Group’s electric mobility arm acquired a controlling stake in Bengaluru-based electric vehicular infra company, Numocity Technologies Pvt. Ltd for an undisclosed amount.